Founded as American Steel Foundries in 1902 via the combination of eight steel foundries in the East and Midwest, the company changed its name to Amsted Industries in 1962. At one time, Amsted dealt principally with railroad companies, producing a variety of cast-steel components. Today, the company's product lineup ranges from cooling towers and ductile pressure pipe to steel railroad wheels and powdered metal products. Amsted went private via an employee stock ownership buyout in 1986.